Pakistan a safe destination for investment

Lahore - Pakistan is a safe country and good business destination for the foreigners. Canada highly values its relations with Pakistan and keen to further strengthening its economic ties with this country.

These views were expressed by the Leader of Opposition and head of the delegation of Legislative Assembly of Ontario, Canada Patrick Brown while speaking at the LCCI. The LCCI President Sheikh Muhammad Arshad, Vice President Nasir Saeed, Senator Salma Ataullahjan, President of Canada Pakistan Business Council Samir Dossal, Acting High Commissioner Andrew Turner, President All Pakistan Business Forum Ibrahim Qureshi, Fiona Sioban Brown, Geneieve Gualtieri, Adam Ibrahim, Ahmed Attia and Mian Ashraf also spoke on the occasion.

Patrick Brown said that Pakistan has a huge potential particularly for the Canadian businessmen. He stressed the need for close contacts between the businessmen through use of modern technology in order to develop deep and lasting relations and networks for sharing each other’s experiences.

He said that they would play their role for increasing bilateral trade between the two countries. He said that Pakistani businessmen should initiate joint ventures with their Canadian counterparts.

The Canadian delegation leader spoke highly about Pakistan and said that he would share his experience of Pakistan with fellow parliamentarians. He said that the existing volume of bilateral trade has no match with potential in two countries. He said that Canada has expertise in green technology that could be of great benefit to Pakistan. He said that he would utilize all his resources to highlight soft image of Pakistan.

Speaking on the occasion, the LCCI President Sheikh Muhammad Arshad said that the visit of Canadian delegation would help explore such business opportunities where people from both the countries could jointly start business ventures.

He said that Pakistan is not only self sufficient in food sector but also has the capacity to supply processed food. Through big food chains we can significantly increase its demand.

The LCCI President said that development work of China Pakistan Economic Corridor is being carried out at good pace whose total worth is almost dollar 46 billion. It is a big opportunity with regard to economic future of Pakistan. We urge that Canadian investors should also participate in it.

He said that Pakistan has yet to overcome the energy crisis. You can play a role in encouraging relevant Canadian companies to initiate power projects in Pakistan capable of generating electricity through hydel, thermal, solar, bio and alternate resources.

He said that in recent years, Pakistan has gained further political stability. We hope that we will soon start reaping the fruits of attaining political maturity.

The LCCI President said the trade figures between Canada and Pakistan. In 2013, the total volume of bilateral trade was dollar 356 million which surged to dollar 582 million in 2014. The main reason of that increase was substantial rise in imports from Canada which went up from dollar 122 million to dollar 358 million. In contrast to that our exports to Canada fell from dollar 234 million to dollar 224 million in the same period of time.

The LCCI Vice President Nasir Saeed said that the present scenario of trade, we wish that the balance of trade be in favor of Pakistan and our products could have easy access to the markets of Ontario in particular and of Canada in general. Your support is desperately needed in this connection.

Nasir Saeed said that the economic condition of Ontario is much stronger as compared to other provinces of Canada. Its sectors like manufacturing, agriculture, forestry, mining and service are fairly developed. I will propose that there should be exchange of delegations comprising experts from these sectors so that knowledge sharing and transfer of technology could become possible. It is needless to mention that the role of Canadian High Commission and Honorary Consul of Canada is important in this regard.

The LCCI office-bearers said that in terms of tourism, Pakistan is a beautiful and historical country and you will be amused by its scenic beauty. We are peace loving nation and desirous of peace. You must have witnessed that there is no such situation in Pakistan which is mostly portrayed by international media.